Cyclical Unemployment Is Equal to Zero When

question 23

Multiple Choice

Cyclical unemployment is equal to zero when:

• A)there is no recessionary gap.
• B)there is no expansionary gap.
• C)actual GDP and potential GDP are equal.
• D)frictional unemployment equals structural unemployment.

Grasp the UCC's approach to contract modification, including the role of consideration.

Understand the provisions regarding unconscionability and how the UCC addresses fairness in contracts.

Recognize the role of merchant status, along with the associated rights and obligations under the UCC.

Realize the implications of the "battle of the forms" under the UCC and its modern approach to contract acceptance and terms.